Aerojet Rocketdyne has officially opened its Center of Excellence for Undersea Propulsion to support the U.S. Navy’s next generation torpedoes. The first of its kind in the nation for industry, the facility will be used to produce the innovative undersea propulsion known as Stored Chemical Energy Propulsion System (SCEPS) and the entire torpedo afterbody.
Why Is Snap-on Stock Sliding Today?
Snap-on Inc reported flat first-quarter 2024 net sales of $1.182 billion, missing expectations. Gross margin and operating income increased, adjusted EPS beat consensus. Segment sales varied. Company expects growth in 2024.
